The Influence of Organizational Speed on Organizational Mishaps: The Moderating Role of Dynamism

Previous studies have shown the importance of organizational speed for firms’ competitive advantage and financial performance. However, more recent studies have also demonstrated that speed can be detrimental for companies. Drawing on the managerial cognitive perspective, we argue that organizational speed can contribute to organizational mishaps. We focus on organizational speed in relation to firms’ mergers and acquisitions and strategic alliances. Based on a sample of 331 companies in the United States over the period 2003-2009, our findings suggest that organizational speed has a positive influence on firms’ mishaps. Furthermore, we found that this effect is stronger when firms operate in dynamic environments.Universidad de Málaga. Campus de Excelencia Internacional Andalucía Tech

Can National Innovation Substitute The Role of Environmental Regulation to Improve Corporate Environmental Performance?

Environmental regulatory uncertainty has attracted extraordinary attention among scholars, managers, policy-makers and other members of society. Despite this increasing attention, the impact of environmental regulatory uncertainty on the environmental approaches of firms is difficult to estimate in the business context. Considering that environmental regulations are not the only mechanism enabling firms to develop proactive environmental management practices, we show that the national institutional profile delineates a firm’s environmental progress. Specifically, we argue that the national level of innovation is an essential institutional condition that can encourage firms to develop advanced environmental approaches and even overcoming the effect of environmental regulatory uncertainty on corporate environmental performance. Using a sample of 1,912 firms from 19 countries, we developed different scenarios that combine the effects of environmental regulatory uncertainty and the national level of innovation. Knowledge of these different situations illustrates how managers cope with environmental regulatory uncertainty.Environmental Regulatory Uncertainty; National Level of Innovation; Corporate Environmental Performance

Avoiding relapses after crises: Exploring the influence of firm investors’ characteristics on organizational resilience

Many firms may successfully navigate an organizational crisis, but may find themselves entangled in another soon after. Building on a resource-dependence perspective, this study evaluates how certain investor characteristics foster organizational resilience during a crisis by preventing a relapse following recovery. Drawing on data from 2014 to 2019, we analyzed 359 firms that faced a crisis in 2015, as indicated by their Altman Z-score values. Our findings reveal that diversity and patience of investors prevent firms from relapsing into upcoming crises; however, the probability of relapse increases when concentrated investors boost the firm’s capital during the in-crisis period. We bridge the gap between the resource-dependence theory and literature on organizational resilience and contribute by extending previous analyses on the relevance of investors to recover from a crisis to identify how in-crisis investors’ features also state the foundations to avoid future relapses.Grant PID2019- 107767GA-I00 and Grant PID2022-138331NB-I00 funded by MICIU/AEI /10.13039/501100011033ERDF/UEGrant TED2021-129829B-I00 funded by MICIU/AEI/10.13039/5011 00011033European Union NextGenerationEU/PRTRGrant C-SEJ-069-UGR23 funded by Consejería de Universidad, Investigación e InnovaciónERDF Andalusia Progra

The relationship between the profitability and the presence of director interlocks. An analysis from the theory of resources and capabilities

El tema del gobierno corporativo, y el estudio del consejo de administración, ha recibido una atención creciente tanto en los desarrollos de gestión como en la literatura de investigación. Esta tendencia ha quedado especialmente manifiesta en la proliferación de códigos de buen gobierno corporativo en muchos países en los cuales se presenta al consejo de administración como un órgano vital para asegurar un gobierno responsable de las empresas. Por su parte la literatura de gobierno corporativo ha prestado una atención preferente al análisis, desde una perspectiva de agencia, de la forma en que los consejeros pueden desarrollar un control más eficaz sobre la labor de los gestores de la empresa. Este trabajo plantea una contribución a la literatura previa analizando si la presencia de consejeros que están simultáneamente en consejos de varias organizaciones puede aportar capacidades a las organizaciones que conlleven una mejora de sus resultados financieros. Mientras que las implicaciones de las características y control de los consejeros de la organización han recibido una atención amplia en la literatura previa, el análisis de la influencia de la existencia de consejeros compartidos entre varias empresas ha recibido una atención limitada. Sin embargo la realidad empresarial ha incrementado exponencialmente el número y la importancia de estas figuras compartidas debido sobre todo al progresivo reforzamiento de las redes de participación entre grupos empresariales. El planteamiento teórico del trabajo se basa en una visión del consejo desde la perspectiva de los recursos y capacidades, línea teórica cuyo uso en el estudio del gobierno corporativo se ha ido incrementando en los últimos años pero que sigue estando poco desarrollada, pese a la influencia creciente de esta perspectiva en la literatura y los llamamientos para analizar los temas de gobierno desde esta perspectiva. Una visión del consejo desde esta perspectiva plantea la posibilidad de que los consejeros no sólo sean valiosos por su control de la labor directiva sino que sean en sí recursos para la empresa, más o menos valiosos en virtud de su propia competencia, conocimiento o experiencia. En este sentido, los consejeros compartidos podrían contar con una habilidad superior para, 1) incrementar la capacidad de la organización para procesar mayor volumen y variedad de información, 2) ayudar en la generación de alternativas estratégicas innovadoras y 3) aportar capacidades complementarias para tomar la mejor decisión dadas las alternativas y la información disponible. Para contrastar nuestro estudio se ha usado una muestra de 93 empresas eléctricas de Estados Unidos de las que se han obtenido datos para el año 2004. En este sector se han establecido recientemente por la Comisión Federal Reguladora de la Energía en Estados Unidos (FERC) nuevas reglas específicas en torno a los consejeros compartidos, mostrando la importancia que este fenómeno está adquiriendo en este específico sector. Los resultados obtenidos muestran una relación negativa entre la presencia de consejeros compartidos y la rentabilidad de la empresa. El artículo discute las implicaciones que estos resultados pueden tener para futuras investigaciones, gestores y entes reguladores.The topic of corporate governance and the study of boards of directors have received increasing attention in management and in research literature. This bias has particularly evident in the proliferation of good corporate governance codes in many countries. In these codes boards are presented as a vital organ to ensure responsible corporate governance. Meanwhile, the corporate governance literature has provided a focus for analysis, from an agency perspective, the manner in which directors can develop a more effective control over the work of managers of the company. This paper presents a contribution to the previous literature analyzing whether the presence of directors who are simultaneously on several boards of organizations can provide capabilities to organizations that involve improving their financial results. While the implications of the characteristics and control of the directors of the organization have received wide attention in the literature, the analysis of the influence of the existence of director interlocks between several businesses has received limited attention. However real business has increased exponentially the number and importance of these figures due to the progressive strengthening of networks of participation between groups. The paper is based on a vision of boards from the resources and capabilities perspective, a theoretical line whose weight in the study of corporate governance has been increasing in recent years, but that continues to be under-developed despite the growing influence of this perspective in the literature and calls to analyze the issues of corporate governance from this perspective. A vision of the board from this perspective supports the argument that directors are not only valuable due to their control over managers but that they are also resources for the company, more or less valuable for their own competence, knowledge or experience. In this regard, director interlocks can 1) assist in the identification of possible alternative decisions, 2) increase the ability of organizations to collect information on alternatives and 3) help to make the best decisions with alternatives and information available. To test our study we used a sample of 93 U.S. electric companies from which data was obtained for 2004. In this sector new rules on director interlocks have been recently established by the Federal Energy Regulatory U.S. (FERC), showing the importance that this phenomena is receiving in this particular sector. The results show a negative relationship between the presence of director interlocks and corporate profitability. The paper discusses the implications of these findings for future research, managers and government

Grupos empresariales y resiliencia: Informe sobre cese de actividad de empresas de la industria de alimentación y bebidas de Andalucía

Confederación Granadina de Empresario

Gobierno corporativo y planteamiento medioambiental de la empresa

Tesis Univ. Granada. Departamento de Organización de Empresas. Leída el 1 de abril del 201

Encouraging corporate sustainability through effective strategic partnerships

SRA (State Research Agency), Grant/Award Number: PID2019-107767GA-I00; Universidad de Granada/CBUAThere is a substantial body of theoretical evidence and a wide variety of recommendations from multilateral agencies on the importance of develop partnerships to achieve sustainability but not all partnerships could be equally effective. The purpose of this study is to establish which characteristics of partnerships could be related to greater improvements in firms' sustainability. To achieve this goal, we based on the resource-based view, to emphasize the importance of expanding firm resources and capabilities through strategic partnerships. The longitudinal panel data used includes information from sustainability reports published by Spanish listed firms between 2016 and 2019. We find evidence that greater diversity referring to social sectors involved and longer duration partnerships improve sustainability measures, but only in responsive firms (environmentally pollutants). By contrast, in nonresponsive firms, diversity and longer-tenure partnerships implied less improvement. Finally, we analyze the implications of these results to build effective partnerships and encourage sustainability.SRA (State Research Agency) PID2019-107767GA-I00Universidad de Granada/CBU

Una visión panorámica de la literatura sobre la gestión ambiental en la empresa

Este trabajo ha sido financiado por el Ministerio de Educación y Ciencia (proyecto ECO2010-20483) y la Junta de Andalucía (proyectos de excelencia: P08-SEJ-0457, P10-SEJ-6765 y P11-SEJ-7988).La concienciación por minimizar el impacto al entorno natural de las empresas ha adquirido una notable importancia durante las últimas décadas por parte de los diferentes grupos de interés (gobiernos, grupos ecologistas, sindicatos, consumidores, empresas y la sociedad en general). La literatura académica también ha prestado un creciente interés a esta temática. Sin embargo, aún quedan muchos interrogantes respecto a los retos y oportunidades relacionados con la gestión medioambiental. El objetivo del presente trabajo consiste en presentar los principales conceptos y enfoques teóricos utilizados en esta literatura, para resaltar la importancia de la gestión medioambiental de las organizaciones como disciplina académica. En segundo lugar, describimos las diferentes metodologías que se emplean y las fuentes de datos disponibles y, finalmente, proponemos algunas ideas para futuras líneas de investigación.Preservation and protection of the natural environment has gained significant attention in the business context, especially during the last decades. Indeed, there are strong pressures from stakeholders (governments, non-governmental organizations, consumers, suppliers and the society) to encourage firms to develop advanced and proactive environmental management practices. Although the management literature has also developed different studies in the environmental arena, there are still many research questions that have to be properly addressed. The aim of this paper is to summarize the main topics covered and the theoretical frameworks used in the existent environmental management literature. Secondly, we describe the main methodologies and databases used in this academic area. Finally, we propose future research lines.Ministerio de Educación y Ciencia ECO2010-20483Junta de Andalucía P08-SEJ-0457, P10-SEJ-6765, P11-SEJ-798

Older and Wiser: How CEO’s Time Perspective Influences Long-Term Investments in Environmentally Responsible Technologies

Most theories of corporate governance argue that Chief Executive Officers (CEOs) take less risk as they near the end of their career, and therefore are less likely to make major investments. This prediction is based on decisions related to firm-specific benefits; however, it may not be generalizable to decisions that involve broad societal goals. In terms of societal investments, CEOs with a longer time perspective may be more likely, rather than less likely, to invest. In this paper, we argue that a CEO’s future time perspective is fostered by shorter career horizons, longer tenures, higher organizational ownership, and less short-term compensation. We test these hypotheses on 150 observations from the U.S. investor-owned electric power generation sector over a three-year unbalanced sample (64.3% of the population). We applied random-effects generalized least squares (GLS) estimations to test our hypotheses, and found support for three out of four hypothesized relationships